Latest news with #ZeeEntertainmentEnterprises
Business Standard
23-06-2025
- Business
- Business Standard
Market ends with steep losses, media shares outperform; VIX rallies 2.74%
The domestic equity benchmarks ended with significant losses today, weighed down by ongoing tensions in the Middle East. Media, consumer durables and metal shares advanced while IT, auto and FMCG shares declined. The Nifty settled below the 25,000 level. As per provisional closing data, the barometer index, the S&P BSE Sensex, tanked 511.38 points or 0.62% to 81,896.79. The Nifty 50 index slipped 140.50 points or 0.56% to 24,971.90. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.20% and the S&P BSE Small-Cap index added 0.57%. The market breadth was negative. On the BSE, 1,862 shares rose and 2,195 shares fell. A total of 183 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 2.74% to 14.05. Economy: The HSBC Flash India Composite Output Index, which tracks month-on-month changes in combined output from manufacturing and services, rose to 61.0 in June from 59.3 in May - the highest in 14 months and well above the long-term average. Manufacturing led the growth, with the Manufacturing PMI Output Index climbing to 61.5 in June from 60.3 in May. The overall Manufacturing PMI rose to 58.4, its best level since April 2024, signalling improved operating conditions. The HSBC Flash India Services PMI Business Activity jumped to 60.7 from 58.8, showing a strong uptick in service sector growth. Buzzing Index: The Nifty Media index soared 4.39% to 1,748.40. The index jumped 4.76% for the second trading session. Zee Entertainment Enterprises (up 12.64%), Network 18 Media & Investments (up 3.39%), Nazara Technologies (up 3.19%), Dish TV India (up 1.82%), PVR Inox (up 1.07%), Saregama India (up 0.69%), D B Corp (up 0.46%) added. On the other hand, Sun TV Network (down 1.29%), Hathway Cable & Datacom (down 0.47%) and Tips Music (down 0.31%) edged lower. Zee Entertainment Enterprises (ZEEL) surged 12.64% after the company released a detailed strategic business update outlining its plans for consolidation, capital infusion, and digital growth. The company reported that it holds a 17% share of the urban TV viewership market (15+ age group). This comes amid broader industry consolidation that has resulted in a two-player market structure, with Peer-1 holding a dominant 34% share. Zee stated that it remains committed to strengthening its position in the evolving media and entertainment landscape. Stocks in Spotlight: Solar Industries India shed 0.52%. The company said that its wholly owned subsidiary, Solar Defence & Aerospace has signed contract with Ministry of Defence, Government of India, to supply defence products. Ideaforge Technology hit an upper limit of 10% after the company secured an order worth approximately Rs 137 crore, inclusive of all charges to supply Mini UAVs with accessories to Ministry of Defence. Waaree Renewable Technologies rose 0.13%. The company announced that it has signed a non-binding memorandum of understanding (MoU) with Viet Khanh Joint Stock Company for the execution of engineering, procurement, and construction (EPC) work for a solar power project. Bharat Electronics (BEL) advanced 3.15% after the company announced it had secured additional orders worth Rs 585 crore since its last disclosure on 5 June 2025. Godrej Properties fell 1.17%. The company announced that it had sold inventory worth over Rs 2,000 crore during the launch of the first phase of its residential project, Barca @ Godrej MSR City, located in Devanahalli, North Bengaluru. Nitco jumped 2.04% after the company announced that it has received a fresh Letter of Intent (LoI) from Prestige Estates Projects for an additional tile supply order worth approximately Rs 45 crore. Zen Technologies hit an upper limit of 5% after the companys board has approved the acquisition of TISA Aerospace (TISA) through a mix of share purchase plus compulsorily convertible debentures (CCDs) from current shareholders of TISA. Global Markets: European markets traded lower, while Asian markets ended lower on Monday as investor jitters grew following the US airstrikes on three Iranian nuclear sites, which pushed oil prices higher and reignited fears of a wider Middle East conflict. Brent Crude climbed to $78.52 a barrel, continuing its upward trend amid regional tensions. On the macro front, Japan delivered a pleasant surprise. Its manufacturing sector returned to expansion in June, with the au Jibun PMI rising to 50.4 from Mays 49.4. The services sector also saw steady growth, with the index nudging up to 51.5 from 51.0. Back in the US, two of the three major indices closed lower on Friday. The S&P 500 slipped 0.22%, marking its third straight loss, while the Nasdaq dropped 0.51%. The Dow managed a modest gain of 0.08% as investors weighed geopolitical developments and the Feds next move on rates.
Mint
17-06-2025
- Business
- Mint
Stocks to watch: Zee Entertainment, NTPC, Reliance Industries, Biocon among shares in focus today
The Board of Directors of Zee Entertainment Enterprises (ZEE) has given the green light to issue up to 16.95 crore fully convertible warrants to entities belonging to the promoter group on a preferential basis, priced at ₹ 132 per warrant, with the aim of raising ₹ 2,237.44 crore. The state-owned power giant has announced that its board will meet on June 21, 2025, to consider a proposal to raise up to ₹ 18,000 crore through bond issuance, according to a filing with the stock exchanges on Monday. The company stated that its board of directors has given the green light to a share buyback plan valued at up to ₹ 175 crore. A Mumbai-based non-banking financial company announced today, June 16, the appointment of B. P. Kanungo, former deputy governor of the Reserve Bank of India, as an independent director on its board. Mukesh Ambani's Reliance Industries (RIL) offloaded 85 lakh shares of Asian Paints, India's largest paint manufacturer, through a block deal valued at ₹ 1,876 crore. Biocon has initiated its qualified institutional placement (QIP) to raise ₹ 4,500 crore, setting the floor price at ₹ 340.20 per share in accordance with Sebi's pricing guidelines. Macrotech Developers has officially changed its name to Lodha Developers, effective June 16, following approval from the Ministry of Corporate Affairs (MCA). Hyundai Motor India commenced production of passenger vehicle engines at its Talegaon plant in Maharashtra on June 16. The private sector bank stated that it has received the Reserve Bank of India's (RBI) approval to reappoint Sandeep Batra as its executive director. The company stated that its board of directors has given the green light to a proposal for renaming the company as Jindal Steel Limited, pending required approvals from shareholders and regulatory authorities. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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Business Standard
16-06-2025
- Business
- Business Standard
Zee to raise over ₹2K cr from preferential issue of convertible warrants
Zee Entertainment Enterprises (ZEEL) will raise over Rs 2,237 crore from the preferential issue of convertible warrants, as its board of directors on Monday approved the promoters increasing their shareholding in the company. These warrants are proposed to be allotted to Altilis Technologies or Sunbright Mauritius Investments, according to the stock exchange filing. The promoters' shareholding in ZEEL will rise to 18.39 per cent from 3.99 per cent. 'In a second board meeting held later in the day, the board of directors considered the various alternatives discussed by JP Morgan and, after due deliberations, adopted and approved the enhancement of promoter shareholding by issuance of up to 16,95,03,400 fully convertible warrants to the promoter group entities on a preferential basis, at Rs 132 per warrant. The promoters of the company will participate in the fundraising exercise by investing Rs 22,37,44,48,800 (Rs 2,237.4 crore) for the company's next phase of growth, taking the total promoter shareholding to 18.39 per cent. The preferential issue is subject to shareholders' approval,' it said in a statement. Before this, the promoter and promoter group, led by Essel Group's Chairman Emeritus of ZEEL, Subhas Chandra, and his family, held 3.99 per cent of the shareholding in the company, according to the Bombay Stock Exchange (BSE). Its shares closed at Rs 138.25, up by 0.68 per cent, on NSE. Shubham Shree, on behalf of the promoter group, was quoted saying, 'The promoters submitted their desire to enhance their shareholding to the board on 1 May when the stock price was at Rs 106.35; however, they are committed to the company and its business even at this higher price.' The Mumbai-based broadcaster also had another meeting with JP Morgan, an investment bank, it stated in its release, where the latter presented an assessment of the company's growth plans and strategic initiatives and also discussed the market perception of the stock and potential alternatives with the board, ZEEL said. R Gopalan, Chairman, ZEEL, said in a statement that the board had deliberated upon the various alternatives discussed with JP Morgan and conducted a thorough evaluation of the company's growth plans. 'The board believes that the steps being implemented to enhance the promoter shareholding will ensure their added motivation to work in line with the enhanced business plan. The investment by the promoters, coupled with the strong, ambitious growth initiatives planned by the management team, will ensure that 'Z' (the new brand logo) remains well-positioned to accelerate its strategic plans to achieve its targeted aspirations,' he added. This comes a month after the company announced its rebranding process and a new phase of growth backed by its focus on content and technology, and its long-term vision around ZEEL's performance and profitability. These steps follow the company implementing several cost-cutting measures in FY25, after Punit Goenka, Chief Executive Officer (CEO), ZEEL, said in the earnings call for the January–March quarter that there is no room for cost-cutting right now for the expansion of its EBITDA margin. In June, the company also announced a strategic equity partnership with content and technology start-up Bullet, where ZEEL is expected to either invest or acquire a stake in the platform, it had stated in the stock exchange filing. Bullet developed India's first micro-drama application focused on fast-paced, creator-driven content through short-duration vertical format episodes targeted towards younger audiences.
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Business Standard
16-06-2025
- Business
- Business Standard
Zee to raise Rs 2,237 crore via warrants; promoter stake to hit 18.39%
Zee Entertainment Enterprises (ZEEL) will raise over Rs 2,237 crore from the preferential issue of convertible warrants, as its board of directors on Monday approved the promoters increasing their shareholding in the company. These warrants are proposed to be allotted to Altilis Technologies or Sunbright Mauritius Investments, according to the stock exchange filing. The promoters' shareholding in ZEEL will rise to 18.39 per cent from 3.99 per cent. 'In a second board meeting held later in the day, the board of directors considered the various alternatives discussed by JP Morgan and, after due deliberations, adopted and approved the enhancement of promoter shareholding by issuance of up to 16,95,03,400 fully convertible warrants to the promoter group entities on a preferential basis, at Rs 132 per warrant. The promoters of the company will participate in the fundraising exercise by investing Rs 22,37,44,48,800 (Rs 2,237.4 crore) for the company's next phase of growth, taking the total promoter shareholding to 18.39 per cent. The preferential issue is subject to shareholders' approval,' it said in a statement. Before this, the promoter and promoter group, led by Essel Group's Chairman Emeritus of ZEEL, Subhas Chandra, and his family, held 3.99 per cent of the shareholding in the company, according to the Bombay Stock Exchange (BSE). Its shares closed at Rs 138.25, up by 0.68 per cent, on NSE. Shubham Shree, on behalf of the promoter group, was quoted saying, 'The promoters submitted their desire to enhance their shareholding to the board on 1 May when the stock price was at Rs 106.35; however, they are committed to the company and its business even at this higher price.' The Mumbai-based broadcaster also had another meeting with JP Morgan, an investment bank, it stated in its release, where the latter presented an assessment of the company's growth plans and strategic initiatives and also discussed the market perception of the stock and potential alternatives with the board, ZEEL said. R Gopalan, Chairman, ZEEL, said in a statement that the board had deliberated upon the various alternatives discussed with JP Morgan and conducted a thorough evaluation of the company's growth plans. 'The board believes that the steps being implemented to enhance the promoter shareholding will ensure their added motivation to work in line with the enhanced business plan. The investment by the promoters, coupled with the strong, ambitious growth initiatives planned by the management team, will ensure that 'Z' (the new brand logo) remains well-positioned to accelerate its strategic plans to achieve its targeted aspirations,' he added. This comes a month after the company announced its rebranding process and a new phase of growth backed by its focus on content and technology, and its long-term vision around ZEEL's performance and profitability. These steps follow the company implementing several cost-cutting measures in FY25, after Punit Goenka, Chief Executive Officer (CEO), ZEEL, said in the earnings call for the January–March quarter that there is no room for cost-cutting right now for the expansion of its EBITDA margin. In June, the company also announced a strategic equity partnership with content and technology start-up Bullet, where ZEEL is expected to either invest or acquire a stake in the platform, it had stated in the stock exchange filing. Bullet developed India's first micro-drama application focused on fast-paced, creator-driven content through short-duration vertical format episodes targeted towards younger audiences.
Business Standard
12-06-2025
- Business
- Business Standard
Zee Ent gains as board to discuss 3-5 years growth roadmap with investment banker
Zee Entertainment added 2.04% to Rs 135.20 after the company announced that its board will meet on Monday, 16 June 2025, where an investment banker will present and discuss the company's growth initiatives for the next three to five years. The investment banker will apprise the board of its review of the companys business plans and the growth initiatives for the next three to five years. They may suggest any risk mitigation thoughts for the execution of such plans. They may also recommend potential fund-raising options, if any. Additionally, the companys board will hold a separate meeting on the same day to deliberate on the investment bankers recommendations and consider adopting them, either in part or in full. Zee Entertainment Enterprises is a leading content and technology powerhouse, seamlessly blending its rich legacy with pioneering innovation to deliver cutting-edge entertainment experiences. Z brings diverse stories to life through linear television, digital platforms, movies and music across languages. The companys consolidated net profit surged 1,306% to Rs 188.40 crore on 0.7% increase in net sales to Rs 2,184.10 crore in Q4 FY25 over Q4 FY24.
